
Affordable Housing
Our attorneys are at the forefront of innovative, public-private partnership efforts to provide financing solutions to incentivize affordable housing projects in Tennessee. We represent private developers and public housing authorities (PHAs) in projects that utilize Low-Income Housing Tax Credits (LIHTC); tax exempt housing bonds; loans subsidized by Community Investment Tax Credits (CITC) authorized by the state of Tennessee and various FHA-insured products, including Fannie Mae's Reduced Occupancy Affordable Rehab (ROAR) and HUD 221(d)(4) loans.
As the U.S. Department of Housing and Urban Development's Rental Assistance Demonstration program (RAD) continues to gain traction in addressing the estimated $26 billion nationwide backlog of deferred public housing property maintenance, we are actively assisting PHAs as they leverage this tool to preserve and improve public housing properties in Tennessee. We help PHAs through the application process and in the conversion of units to project-based Section 8 contracts. We also routinely facilitate payment in lieu of tax transactions (PILOTs) to support development of affordable housing.
Our strength is rooted in experience. Regardless what direction new tax policy takes, Bass, Berry & Sims will be positioned to offer the highest level of strategic advice to clients in affordable housing.
Experience
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We represented the City of Knoxville and Knox County and served as bond counsel to The Sports Authority of the...
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In 2022, Bass, Berry & Sims closed 18 Affordable Housing bond issues totaling over $228 Million. The closings, involving both...
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During 2022, we assisted housing authorities with the Rental Assistance Demonstration (RAD) conversion of approximately 500 affordable housing units. These...
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We served as bond counsel in connection with a Rental Assistance Demonstration (RAD) conversion/rehab for The Villages at Old Hickory,...
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We represented the developer of Burlington Commons, an affordable housing complex in East Knoxville, in all aspects of the transaction....
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We served as bond counsel and local counsel to affiliates of social services organization People Incorporated of Virginia in connection...
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We served as bond counsel to LHP Capital, LLC for three tax exempt financings relating to the rehabilitation of the...
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We represented Knoxville's Community Development Corporation (KCDC) in connection with the RAD conversation of three large housing projects – one...
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We served as bond counsel in connection with the issuance of tax-exempt bonds for the rehabilitation of five different affordable...
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We assisted Knoxville's Community Development Corporation (KCDC) with a major modernization program of its public housing projects. This program involved...